Fears of Iranian oil disruptions and Hurricane Milton in the US boosted oil prices on Thursday. In the previous session, prices fell due to a bigger-than-expected increase in US crude oil inventories. Oil eased on Wednesday after the US released data showing a 5.4 million barrel rise in crude inventories. Meanwhile, economists had predicted a Read More…
Gold prices fell more than 1% on Tuesday and maintained the downward trajectory on Wednesday due to a decline in Fed rate cut expectations. Moreover, prices dropped due to worries about poor growth in China in Q4. Gold (Source: Bloomberg) Gold hit a two-week low in the previous session as market participants priced in a Read More…
Introduction In our earlier analysis, I mentioned key levels in CL crude futures, focusing on a support zone between $66-$71 and a potential breakout above $78.04. There was an expectation of a rally towards higher targets if the price successfully broke above the descending trendline and the 100-week EMA. With escalating geopolitical tensions involving Iran Read More…
Equities fell by 1% on Monday as market participants absorbed the sudden shift in the Fed’s rate cut outlook. At the same time, fears arose that the escalating Middle East tensions would increase oil prices and affect the global economy. On Friday, the US monthly employment report revealed a jump in job growth and a Read More…
Introduction The Dollar has been surging for the past few sessions, posting five straight green candles. Without looking at any fundamentals in today’s overview, lets dive straight into the technicals and see what we can find. Technical Analysis The Dollar is overextended in the short term with the RSI in overbought territory. Price has also Read More…
Currency futures fell on Friday while the US dollar jumped after a blockbuster employment report lowered Fed rate cut expectations. At the same time, demand for the dollar remained high after several upbeat US economic reports. US employment (Source: Bureau of Labor Statistics) It was a green day for the dollar after the US released Read More…
